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Renault employees agree to job cuts, longer hours in return for guarantees

dpa
March 15, 2013, 12:06 am TWN

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PARIS--Workers at French carmaker Renault on Wednesday agreed to 7,500 job cuts and longer working hours in return for guarantees from the company not to close factories in France.

Renault boss Carlos Ghosn and the representatives of three unions jointly signed the “Contract for a new dynamic of Renault growth and social development in France” in front of television cameras.

Under the agreement, Renault will cut 7,500 jobs by the end of 2016, mainly by not replacing departing workers. Working time will increase 6.5 percent and salaries will be frozen for the current year.

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